PUBLISHER: The Business Research Company | PRODUCT CODE: 1409857
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409857
“Trace Minerals in Feed Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on trace minerals in feed market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for trace minerals in feed? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The trace minerals in feed market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Trace minerals in animal feed are essential nutritional elements provided in small quantities to both production and companion animal diets. These minerals play a crucial role in supporting various metabolic functions such as growth, development, immunity, and reproduction among animals.
The primary types of trace minerals incorporated into animal feeds include zinc, copper, cobalt, manganese, iron, chromium, and others. Zinc, for instance, is an essential mineral present in certain foods naturally and added to others as a supplement. It is available in various chelate forms such as amino acids, proteinates, polysaccharides, and others. Zinc supplements are utilized in the diets of various livestock categories including poultry, ruminants, swine, aquaculture species, and others. These supplements are available in both dry and liquid forms to cater to different animal feeding requirements.
The trace minerals in feed market research report is one of a series of new reports from The Business Research Company that provides trace minerals in feed market statistics, including trace minerals in feed industry global market size, regional shares, competitors with trace minerals in feed market share, detailed trace minerals in feed market segments, market trends and opportunities, and any further data you may need to thrive in the trace minerals in feed industry. This trace minerals in feed market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The trace minerals in feed market size has grown strongly in recent years. It will grow from $526.43 billion in 2023 to $557.08 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historic period within the animal feed industry can be attributed to several key factors. These include the early understanding of animal nutrition, reliance on traditional livestock farming practices, the emergence and adoption of feed additives, extensive scientific research focused on animal health and nutrition, and the overall expansion of the livestock industry. These elements collectively contributed to the evolution and advancement of animal feed practices during the historic period.
The trace minerals in feed market size is expected to see strong growth in the next few years. It will grow to $692.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period within the animal feed industry is expected to be influenced by several significant factors. These encompass heightened consumer awareness and education regarding animal nutrition, the continuous growth of global livestock production, ongoing research and development efforts in animal nutrition, increasing concerns and efforts regarding environmental sustainability, and a continued emphasis on improving animal health and performance. Major trends expected in this period involve an increased focus on optimizing animal nutrition, the continual rise in livestock production worldwide, advancements in scientific methodologies related to animal feed, amplified concerns regarding environmental sustainability within the industry, and the evolving landscape of regulatory standards governing animal feed production and use. These trends are poised to shape and steer the trajectory of the animal feed industry in the forecasted period.
The increasing demand for animal-based protein is set to be a significant driver for the growth of the trace minerals in feed market. Animal-based protein, sourced from meat, offal, milk, and eggs, is a focal point in animal nutrition. The incorporation of trace minerals in animal-based protein is crucial for addressing potential deficiencies and optimizing the health and performance of production animals. Bioavailable trace mineral sources strategically included in animal feed contribute to this nutritional optimization. An illustrative study conducted in June 2022 by the University of Minnesota's College of Food, Agricultural and Natural Resource Sciences (CFANS) in collaboration with the International Food Information Council (IFIC), a US-based non-profit organization, revealed that 80% of U.S. adult consumers prefer animal-based protein (such as pork, beef, poultry, and fish) as their primary protein source. This consumer preference underscores the driving force of the growing demand for animal-based protein in propelling the trace minerals in feed market.
The upward trajectory of meat and fish consumption is anticipated to further boost the growth of the trace minerals in feed market. Described as the flesh of animals, including fish and birds, meat is a key component of a balanced diet. The increasing global need for animal protein has led to a rise in meat and fish consumption, thereby driving the demand for trace minerals in feed. Notably, trace minerals are employed to enhance the meat and carcass quality of contemporary broiler chickens through the use of mineral clays in their feed. According to the Agricultural Outlook 2022-2031 report published by OECD-FAO, an Italy-based organization providing consensus assessments for agriculture and fish markets, global apparent edible fish consumption is projected to reach 21.4 kilograms per capita in 2031, up from 20.5 kilograms in the baseline period (average 2019-2021). Additionally, poultry meat consumption is expected to rise globally to 154 metric tons throughout the forecast period, accounting for approximately half of the increased meat consumption. Consequently, the escalating consumption of meat and fish plays a pivotal role in driving the growth of the trace minerals in feed market.
The prevailing trend of product innovation takes center stage in the trace minerals in feed market, with major companies actively engaging in the development of inventive products to fortify their market positions. A notable example is the Zinpro Corporation, a US-based innovator and manufacturer of high-performance organic trace minerals, which introduced Zinpro IsoFerm for dairy nutrition in October 2022. Zinpro IsoFerm stands out for its distinctive features, including the revolutionary technology of directly feeding fiber-digesting bacteria to enhance rumen activity. Engineered to elevate feed efficiency, promote sustainability, and enhance profitability, Zinpro IsoFerm exemplifies the innovative strides within the trace minerals in feed market.
Major companies operating in this market are also committed to addressing challenges in the food and beverages industry through innovative and practical guides. An illustration of this commitment is observed in the initiatives of Zinpro Corporation. In January 2023, the company, known for its expertise in food and beverage manufacturing, launched the Zinpro Global Poultry Mineral Guide. This interactive document serves as a comprehensive resource for re-evaluating trace mineral nutrition for various poultry species. The guide emphasizes customization of trace mineral guidelines tailored to specific production goals and challenges. Available for broilers, broiler breeders, commercial layers, turkeys, and turkey breeders, the guide allows users to adapt guidelines according to factors such as antibiotic-free diets, breast myopathies, meat quality, food safety, infectious diseases, sustainability, and genetic breeder lines. This strategic approach underscores the commitment of major companies to innovation and practical solutions in the dynamic landscape of the trace minerals in feed market.
In August 2023, The Technology Development Board (TDB) and the Department of Science and Technology (DST), government agencies based in India, joined hands with Chemlife Innovations for an Innovative Bio-Trace Minerals Project. This collaborative effort is geared towards revolutionizing the production of bio-trace minerals extensively employed in animal feed. Central to this initiative is the 'Accelerated Natural Bio Transformation' (ANBioT) technology, a proprietary nutrient delivery system aimed at augmenting the bioavailability of trace minerals in animal feed. Chemlife Innovations, an India-based company specializing in the food and beverage sector, is leading this project.
Major companies operating in the trace minerals in feed market report are Cargill Inc., Archer-Daniels-Midland Company, BASF SE, Bluestar Adisseo Co. Ltd., Nutreco NV, Alltech Inc., Zinpro Corp., Novus International Inc., Kemin Industries Inc., Lallemand Inc., Virbac SA, QualiTech Inc., Dr. Paul Lohmann Gmbh & Co. KGAA, Koninklijke DSM NV, Orffa International Holding BV, Direct Line Insurance Group plc, Veterinary Professional Services Ltd., Chemlock Nutrition Corporation, Dr. Eckel Animal Nutrition GmbH & Co. KG, Green Mountain Nutritional Services Inc., JH Biotech Inc., Feed One Co. Ltd., Precision Castparts Corporation, Reliance Steel & Aluminum Co., Nippon Steel Corp., CRS Holdings LLC, Daido Steel Co. Ltd., Mishra Dhatu Nigam Limited, Perryman Company, Toho Titanium Co. ltd. .
Asia-Pacific was the largest region in the trace minerals in feed market in 2023. Asia-Pacific is expected to be the fastest-growing region in the trace minerals in feed market report during the forecast period. The regions covered in the trace minerals in feed market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the trace minerals in feed market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The trace minerals in feed market consists of sales of dietary trace minerals and vitamins. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.